14,746 Shares in Air Products and Chemicals, Inc. (NYSE:APD) Acquired by Highland Capital Management LLC

by · The Markets Daily

Highland Capital Management LLC bought a new position in Air Products and Chemicals, Inc. (NYSE:APD – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,746 shares of the basic materials company’s stock, valued at approximately $4,390,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its position in Air Products and Chemicals by 62.3% during the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after buying an additional 4,309,040 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Air Products and Chemicals by 2,931.0% in the second quarter. National Bank of Canada FI now owns 1,796,531 shares of the basic materials company’s stock valued at $444,352,000 after buying an additional 1,737,260 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Air Products and Chemicals by 127.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,792,470 shares of the basic materials company’s stock valued at $720,597,000 after buying an additional 1,564,169 shares during the period. International Assets Investment Management LLC grew its position in Air Products and Chemicals by 29,957.6% in the third quarter. International Assets Investment Management LLC now owns 718,075 shares of the basic materials company’s stock valued at $2,138,000,000 after acquiring an additional 715,686 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Air Products and Chemicals by 50.6% in the first quarter. Clearbridge Investments LLC now owns 1,547,202 shares of the basic materials company’s stock valued at $374,841,000 after purchasing an additional 520,179 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Trading Down 1.3 %

Shares of Air Products and Chemicals stock opened at $318.07 on Friday. The business has a fifty day simple moving average of $293.76 and a 200-day simple moving average of $270.95. Air Products and Chemicals, Inc. has a fifty-two week low of $212.24 and a fifty-two week high of $332.42. The firm has a market cap of $70.71 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 3.87 and a beta of 0.82. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.77.

Air Products and Chemicals (NYSE:APD – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.16. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.04 billion. Air Products and Chemicals had a net margin of 21.24% and a return on equity of 16.53%. On average, equities analysts forecast that Air Products and Chemicals, Inc. will post 12.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on APD shares. Jefferies Financial Group upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and raised their target price for the company from $295.00 to $364.00 in a research note on Monday, October 7th. BMO Capital Markets increased their price objective on shares of Air Products and Chemicals from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Mizuho increased their price target on shares of Air Products and Chemicals from $308.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their price objective on Air Products and Chemicals from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Finally, StockNews.com raised Air Products and Chemicals from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $326.12.

Read Our Latest Stock Report on APD

Air Products and Chemicals Company Profile

(Free Report)

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.

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